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Press Release - Dejour Enterprises Ltd. (DEJ-AMEX, DEJ-TSX-V) |
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“In 2008, we have decided it is the time for us to take control of what we were doing and since we had built the team based out of our Denver office, which was just opened, we did a deal with a private owned company, Retamco, and we purchased from them the remaining 65% in the interest roughly 60,000 net acres. We now control 120,000 acres where we operate. We have 72% interest there and we retain a 25% interest in about 170,000 acres. 15,000 of those now are the subject of the joint venture in the Greentown area...” - Robert L. Hodgkinson (DEJ) (Interview published July 11, 2008) |
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Dejour Acquires Additional 'Montney' Lands in NE
BC
Amex: DEJ / TSX-V: DEJCALGARY, July 21 /CNW/ - Dejour Enterprises Ltd. announces it has been successful in acquiring additional lands in the emerging 'Montney' natural gas resource play in this part of NE British Columbia at a recent government O&G drilling rights auction."Adding to our initial land acquisition over this play is part of a strategic growth plan for Dejour in the Peace River Arch area. This sets Dejour on a track for significant new resource growth through the drill bit for years to come," says Charles Dove, President, Dejour Alberta. "With the recent Shell Canada announcement to purchase Duvernay Oil Corp. for $5.9 billion, notably for its significant 'Montney' natural gas resource exposure, our ongoing land acquisition program in NE BC positions Dejour well for continued value added resource growth for at least the next 24-36 months. I am very pleased that the Company has been successful in its continuing land acquisition program at very attractive prices, particularly during this period of property value escalation," states Robert L. Hodgkinson, Dejour's Chairman & CEO. According to Andrew Bradford, Oil & Gas Analyst, Raymond James (February 11/2008, "Canadian Energy Sector") the 'Montney' resource in this region is potentially one of the largest economically viable unconventional plays in North America. About Dejour ------------ Dejour Enterprises Ltd. is a micro cap Canadian company creating shareholder value through a balance of exploration, development, production and monetization of strategic North American energy properties including oil, natural gas and uranium. The Company is listed on the Amex (DEJ), TSX Venture Exchange (DEJ.V), and Frankfurt (D5R). Dejour is a reporting issuer to the SEC. Refer to www.dejour.com for company details or contact the Office of Investor Relations at investor(at)dejour.com Statements Regarding Forward-Looking Information: Some statements contained in this news release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and Canadian securities legislation including information respecting the reserves, expected future production levels, future prices, royalties, work plans, and anticipated total oil recovery. Investors are cautioned that forward-looking statements are inherently uncertain and involve risks and uncertainties that could cause actual results to differ materially. Statements containing forward-looking information express, as at the date of this news release, the Company's plans, estimates, forecasts, projections, expectations, or beliefs as to future events or results and are believed to be reasonable based on information currently available to the Company. Exploration for oil and natural gas is a speculative business that involves a high degree of risk. There is no assurance that estimated values of reserves will be realized. The Company's expectations for its operations are subject to a number of risks in addition to those inherent in oil production operations, including: that oil prices could fall resulting in reduced returns and a change in the economics of the project; delays associated with equipment procurement, equipment failure and the lack of suitably qualified personnel; the inherent uncertainty in estimation of reserves; changes in the political or economic environment and failure to receive regulatory approvals. Production and NPV estimates are based on a number of assumptions including availability of the necessary equipment, personnel and financial resources to sustain the Company's planned work program; no material adverse changes in the applicable royalty regime, the absence of unplanned disruptions; the ability of the Company to successfully bring production to market; and general risks inherent in oil and gas operations. Dejour assumes no obligation to update this information. There can be no assurance that future developments affecting the Company will be those anticipated by management. Forward-looking statements and information are subject to a number of other risks and uncertainties described under "Risk Factors" in the Company's Annual Information Form, Annual Report on Form 20-F filed with the US Securities and Exchange Commission and Management's Discussion and Analysis. The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this news release. For further information Robert L. Hodgkinson, Chairman & CEO, DEJOUR ENTERPRISES LTD., Suite 1100-808, West Hastings Street, Vancouver, BC, Canada, V6C 2X4, Phone: (604) 638-5050, Facsimile: (604) 638-5051, Email: investor@dejour.com Source: Dejour Enterprises Ltd.
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